Information Technology Services M&A » By The Online Investor Staff, updated Thu., Apr. 25, 6:52 AM
Recent mergers and acquisitions in the Information Technology Services M&A category.
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Slide #26. Sungy Mobile Limited — GetJar, Inc.
Acquirer:
Sungy Mobile Limited (GOMO)
Acquiree:
GetJar, Inc.
Details:
Sungy Mobile Limited (Nasdaq:GOMO) ("Sungy Mobile" or the "Company"), a leading provider of mobile internet products and services globally with a focus on applications and mobile platform development, today announced that it had recently acquired GetJar, Inc. ("GetJar"), a privately held mobile ad network based in California for $5.3 million in cash. The Company may also issue up to an aggregate of 1,443,074 Class A ordinary shares to the seller of GetJar by early 2016 as earnout payments if certain performance targets are achieved. In addition, the Company will grant certain equity incentives to the management and key personnel of GetJar who will be employed by the Company.
Sungy Mobile is provider of mobile internet products and services globally with a focus on applications and mobile platform development. Co.'s platform product, GO Launcher EX, manages apps, widgets and functions on Android smartphones and serves as users' first entry point to their phones. Co. has developed a portfolio of GO series products which include its launcher products and a broad range of other GO series apps and widgets that provide rich functionality, enhanced performance and extensive personalization for Android smartphones. Co. has created and continued to expand a GO platform that is built upon GO Launcher EX and integrates all of its GO series products.
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Avg. Broker Rec.
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Buy (3.00 out of 4) 100th percentile
(ranked higher than approx. 100% of all stocks covered)
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